MoviePass the struggling movie theater subscription service owned by Helios Matheson Analytics saw its subscribers decline by a big rate during the third quarter The Wall Street Journal citing a Securities and Exchange Commission filing made Thursday November 15 reported MoviePass parent said in the filing that it saw a decline in subscribers but didnt provide a figure on how many Due to the subscriptions decline Helios recorded an impairment charge of 39 million against the goodwill of the MoviePass unit for the third quarter According to the Wall Street Journal the dip in subscribers came after MoviePass began limiting customers to viewing three movies per month for the 995 a month fee It was much more limiting than what MoviePass was offering a year earlier when it launched which was one movie per day Helios said in the filing that each subscriber on average saw 077 movies a month in September which is lower than 085 in August and 223 in March Helios lost 130 million or 20 cents a share for the third quarter compared with a loss of 43 million or 579 a share in the year-earlier period Revenue came in at 81 million which was higher than 12 million in the third quarter of 2017 noted the Wall Street Journal Without raising additional capital there is substantial doubt about the companys ability to continue as a going concern through November 15 2019 Helios said in Thursdays filing In late October Helios Matheson announced the board had signed off on a preliminarily plan to spin off MoviePass In a press release Helios and Matheson said it is creating a new subsidiary called MoviePass Entertainment Holdings Inc that would take ownership of the shares of MoviePass and other film-related assets held by Helios and Matheson The new company would hold the shares of MoviePass common stock the movie theater subscription service membership interests of MoviePass Films and HMNYs movie production company LATEST INSIGHTS Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation thats reshaping the payments and commerce ecosystem Check out our latest Real-Time Payments Playbook